Q. Dear Sir. My 40th birthday is approaching soon. My current salary package is around Rs.40 lakhs. However, in the name of investments, I only have accumulated some amount in my provident fund. Besides, I have acquired an apartment for which I am paying an EMI for last 7 years and still have to pay for eight more years. I have two young daughters and my wife is a house maker. Please suggest how can I secure my future. -Arun Singh, Mumbai
A. Dear Arun, “Better late than never”. First you need to ensure that you save at least 30% of your annual salary i.e. Rs. 12 lakhs in the whole year or Rs. 1 lakh per month. This amount of Rs. 12 lakhs should be prudently invested in a variety of schemes to ensure that your future is well secured and you are able to achieve all your important financial goals as well as take care of your retirement planning also.
We are suggesting you to split your savings of Rs. 12 lakhs in following investment/insurance schemes.
Please note that as you are approaching your 40th birthday, you must allocate 60% of your total savings in equity schemes by following the fundamental principle of financial planning that is 100 minus your age into equity. You should start five Sips of Rs 12000 each in different fund categories like large cap, mid cap, flexi cap and thematic fund etc. 10% of your total savings should be invested in Gold and that is why we are recommending you to invest Rs. 1.20 lakhs in Sovereign Gold bonds. We are confident that by taking these simple steps you will be able to secure a golden future for yourself. For more details, please contact the nearest Bajaj Capital branch and get your financial plan prepared.
Denne historien er fra December 2021-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 2021-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.
Be Kind To Your Kidneys
The kidney is a vital organ in our body which is four inches long and two and a half inches in width.
Have You Included A Passive Fund In Your Portfolio Yet?
The assets under management (AUM) of passive funds recently crossed the Rs. 10 lakh mark. While a significant portion of this money comes from institutional investors, such as the Employees Provident Fund Organisation (EPFO), these funds are also gaining popularity among retail investors.
Mutual Fund
1. SEBI allows mutual funds to buy and sell credit default swaps (CDS)
Insurance News
1. The finance minister has launched a new NPS scheme named NPS Vatsalya
ASK THE EXPERT
Dear Sir, I attended your webinar on post-retirement financial planning. As advised by your good self, I invested in NPS after retirement.
Market Mystery: Some Important Investing Lessons from Fund Managers Themselves
Mr. Mahesh Patil is the Chief Investment Officer (CIO) of Aditya Birla Sun Life AMC Limited. As the CIO Mahesh oversees INR 3 lakh crore of assets under management.
How to make a cautious entry into equity funds during a bull market
The number of mutual fund folios has been rising, with flows via the systematic investment plan (SIP) route reaching new highs.
All that you need to know to kickstart your retirement planning process
We all enjoy planning for the future. It’s a good idea to plan ahead of time for anything, from the day’s activities to a vacation.
5 Steps To Achieve Your Financial Goals
From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.